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  • China & Russia Team Up...

    In This Issue..

    * U.S. data is stronger...

    * Loonie rallies on jobs data...

    * krona rallies on IP data...

    * An end to the bond rally?

    ...
  • US Jobless claims hit 500,000 ...

    In This Issue..

    * Jobless claims hit 500,000...

    * Weber sends the euro to the woodshed...

    * US leads in Deficit/GDP...

    * High yielders come under pressure...

    ...
  • EU reaches an agreement (again)...

    In This Issue...

    * Jobs data is massaged...
    * EU reaches an agreement (again)...
    * Ben warns Congress we are in a 'dark place'...
    * Report shows strong growth in New Zealand...

    Good day, and happy Friday to everyone. The end of another week minus Chuck who will be back in the saddle in a few more days. Chuck is working down in Florida today, giving a presentation at an investment conference. The dollar went on another amusement ride over the past 24 hours, appreciating during the US trading day and then falling back down overnight. It has settled in right about where it was this time yesterday morning with a few exceptions....
  • Trillion Dollar Deficits For Years To Come...

    * CBO forecasts $1.2 Trillion Budget deficit! * And we can expect more! * ADP shows job losses mounting big time! * Brazil's real reverses course... ** Trillion Dollar Deficits For Years To Come... Good day... And a Tub Thumpin' Thursday to you! I had not realized it was Thursday until I began writing this morning! I had been buying breakfast sandwiches for the trading desk on Thursdays, and I'm sure a few people will be wondering what happened when there are no sandwiches this morning... I simply lost track of the days! UGH! Well... There are two major things on the docket for the front and center piece today, both tell us a lot, but I think I'm going to go with the announcement of the Congressional Budget Office (CBO) yesterday afternoon as the lead story, and the ADP jobs report as the second story... So, let's go to the tape!...
  • Another Jobs Jamboree Friday!

    * A zero rate conspiracy? * Weekly jobless claims head toward 500K... * Turning Japanese... I really think so! * Mr. Yen speaks! ** Jobs Jamboree Friday! Good day... And a Happy Friday to one and all! I hope it turns into a Fantastico Friday, because it's not starting out that way. Technical difficulties would be the term used to describe my morning so far... I don't know if the Pfennig will go out on time this morning, as those "technical difficulties" have me working offline right now. But we'll see, eh? Well, it's a Jobs Jamboree Friday too! This should be quite the Jobs Jamboree too, as the ADP Employment report suggested the other day that this data could be even worse than the forecast -200K job losses for October. There have been more job losses in 2008, than you can shake a stick at, but yet the beat goes on for the dollar. Coming To America is the theme playing out in the currencies... Of which, I've explained over and over again, until I sound like a broken record....
  • Change... What Change?

    * Currency Volatility! * Trading Theme creeps back! * ADP indicates a bad Jobs Jamboree... * Putting on my thinking cap... ** Change... What Change? Good day... And a Thunderin' Thursday to you! I say Thunderin' because we're expected to get Thunderstorms and rain today here in the St. Louis area... This will be the first rain we've received in some time, so, while it will bring cooler weather our way, it will still be much needed rain! Well... What a volatile day in the currencies yesterday! WOW! Running up and down the dial, all day long! At one point yesterday morning, the euro looked to be in the driver's seat, ooh, ooh, ooh ooh, driver's seat, yeah... Stop it Chuck, this is supposed to be a serious commentary! Yeah right! Well, at least seriousness is sprinkled in from time to time, eh? Anyway... What I was getting at before slipping off into a song by Sniff-n-The Tears, the euro was moving higher and higher, and was making the 1.29 and 1.30 handles look like picket fences when you pass them going 80 mph!...
  • Another Government Bailout!

    * Fannie & Freddie news... * Jobs Jamboree very disappointing! * Risk Taking back on the board! * Troubles brewing in China? ** Another Government Bailout! Good day... And a Marvelous Monday to you! We had some historic economic news over the weekend as the Gov't has decided to take over Freddie Mac and Fannie Mae... When I heard the news, I made sure I would check on the currencies later in the day when the Asian markets opened. At first, it was all dollar negative news, and the euro was flying high to near the 1.44 handle... So... I went to bed thinking that the markets would be a shambles this morning when I got to work, etc. etc. But, that's not the case, as I turned on the currency screens I saw the euro had lost all that ground it had gained and is back to looking sickly around 1.42 again. In fact, I just looked over, and the single unit has given up the 1.42 handle and is trading below... I'm searching and searching for news on this strong dollar move, and can't seem to find anything... So, I'll go on with the normal fun, and see if something pops up later as I go along......